It has been a long time since there have been major life insurance tax changes in Canada. That’s all about to change with the introduction of new exempt test rules for life insurance policies. The new legislation reflects current mortality rates, new insurance product design, and heightened requirements for standardization across insurers and products. The new rules replace the current and more favourable rules which remain in place until the end of 2016. Below are the details of the most significant new […]

There are multiple changes to the income tax legislation resulting in an increase in Term 100 or Level Cost of Insurance Policy (LCOI) premiums. This change impacts those who want permanent life insurance at a minimum lifetime premium. While the legislation changes are complicated, we have broken down the changes for you.

New rules limit investment inside Term 100 policies

To understand the changes, it is important to first understand the product design. Mortality has an increasing curve-the older we get the more […]